Gold rises to $4,165 after softer US inflation dampens rate hike expectations

New York [US], October 2: Gold prices edged higher on Thursday after softer-than-expected US inflation data reduced expectations that the Federal Reserve would raise interest rates this month.
Spot gold rose 0.2 percent to US$4,165.29 per ounce, while US gold futures for December delivery settled 0.4 percent higher at $4,202.30.
Among other precious metals, spot silver gained 0.2 percent to $60.51 per ounce and platinum rose 0.1 percent to $1,707.56, while palladium fell 2.2 percent to $1,178.57.
Source: Emirates News Agency